Amazon to Reportedly Integrate Crypto Payments By Year-End

Amazon to Reportedly Integrate Crypto Payments By Year-End

Internet giant company Amazon has already integrated a Bitcoin payment system and the platform is already “ready to roll,” after which other cryptocurrencies will be integrated. According to an insider, the plan is well executed by the topmost company executives and after the cryptocurrency payment integration is proven to work, the company will then launch a native token for Amazon.

Ethereum, Cardano, and Bitcoin Cash will be next in line before they bring about eight of the most popular cryptocurrencies online,” said the insider.

The plan to enable Bitcoin payment has been ongoing since 2019 and will most likely roll out by end of this year according to the insider. The said Amazon’s platform token could then be rolled out in 2022.

“It won’t take long because the plans are already there, and they have been working on them since 2019.”

Currently, Amazon does not support an integral crypto payment system unless someone chooses to pay via crypto cards and other third-party mechanisms. Integrating a crypto payment system on Amazon will be some type of party for crypto users who are calling for more crypto adoption, but also Amazon will be looking to take advantage of the innovations in the space. A company spokesperson was last week quoted saying that the company believes that the “future will be built on new technologies that enable modern, fast, and inexpensive payments.”

Nevertheless, the news about launching a native platform token is certainly taking speculations about the company’s crypto plans to a whole new level. Until the recent revelations by the insider, job postings by the company have been pointing to its desire to integrate crypto payments. The company has already hired a technical lead for its “Digital and Emerging Payments” platform after posting the vacancy back in February.

Last week, the eCommerce company posted another job vacancy for a “Digital Currency and Blockchain Product Lead” on its job board. The new hire will be tasked with developing Amazon’s digital currency strategy and product roadmap. In addition to having experience in mainstream cryptocurrencies, applicants are required to have experience in central bank digital currencies, which may further point to the type of token the company may be exploring. The job position is part of the company’s Payments Acceptance & Experience team and will be based in Washington.